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Gold Spot / U.S. Dollar
Long

GOLD - Long term Long - Alternate wave Counts

By Elliottician_SamRoy
Updated
End of wave-4 or just wave-A of wave-4 at exact 50% fib retracement of wave-3.
Check Main wave counts here:
GOLD - End of wave-4, Long term Long
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Look how nicely GOLD has followed the road-map we predicted a year ago using only and only the Elliott Wave Principle.
Happy trades.. :)
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Current position of Gold (circled area) is correction-inside-correction-inside-correction scenario and nothing really to trade here as of now. Black wave-B could form any corrective pattern as zigzag, flat, triangle or even a combination so I really dont wanna touch Gold until this corrective wave-B (black) ends. Anyway, whatever corrective pattern wave-B (black) ends up forming, its first wave-A or W is done and second wave-B or X is underway or completed already and obviously third wave-C or Y is gonna be bullish. I am standing aside in case of Gold because its current price action can chop my account easily and repeatedly.
Good luck

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Hi guys
My bias for Gold is still the same, "sideways"!
Look how many ups and downs whipsawed traders there. At the end of this triangle, we can prepare to go long to ride blue wace-C "IFF it still stays in the same context".
Happy trades :)
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Bullish PatternscorrectionEWLONGlongtermsamroywave-4
Elliottician_SamRoy

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